Bearish Divergence on AUD/USD

0
145
AUD/USD 1-hour

AUD/USD 1-hour

The Aussie has been charging up the charts, huh? If you’re looking to catch the uptrend as AUD/USD makes a run for its highs around the .9500 handle, this may just be your chance to do so!

Stochastic is making lower highs while price is making higher highs, creating a bearish divergence. This could hint that the pair may soon pull back and test support at the rising trend line around the .9400 handle.

If the level holds, we could see AUD/USD resume its rally. However, if the trend line breaks, AUD/USD may drop all the way down to .9300.

To contact the reporter of the story: Jonathan Millet at john@forexminute.com.

**relatedarticle**